UAE fund distributor fees to be introduced
The Emirates Securities and Commodities Authority (ESCA) is to introduce a series of fees for those who wish to register and distribute funds in the United Arab Emirates.
The Emirates Securities and Commodities Authority (ESCA) is to introduce a series of fees for those who wish to register and distribute funds in the United Arab Emirates.
The UAE’s Securities and Commodities Authority has announced an “emiratisation” programme for the financial brokerage sector.
The Emirates Securities & Commodities Authority (SCA) recently issued new mutual fund regulations, which came into effect on 26 August 2012.
A more cohesive approach is needed to clean up the UAEs financial services Sarah Lord, wealth planning director, Killik & Co, Middle East & Asia.
Asset managers in the United Arab Emirates said today that they were struggling to get clarity on new regulations covering investment funds that were unveiled at the end of July by the Emirati Security & Commodities Authority.
The financial services industry in the United Arab Emirates is to undergo the biggest regulatory overhaul in more than three decades, according to reports.
With the oversight of financial advisers in the UAE in the process of being migrated to the Emirati Securities & Commodities Authority (SCA) from the countrys Central Bank and, it seems, the Insurance Authority the body currently setting the qualifications for SCA-regulated Emirati stockbrokers is gearing up to cater for advisers and wealth managers.
The introduction of new fund regulations in the UAE will have a positive impact on the asset management industry, according to 44% of local advisers polled in a recent survey.